Kay Koplovitz, Founder, USA Networks: Be Bold, Think Big

Kay
Koplovitz is a cable television visionary and
was the first woman to head a television network
when she founded USA Networks under the banner of Madison
Square Garden Sports in 1977. She led USA Networks to first place in cable primetime ratings and it remained there for 14 years. In 1992, she launched the Sci-Fi Channel which has become a top ten rated cable network known for innovative drama and mini-series. In 1994, she launched USA Networks International
into 60 countries worldwide.

In
1998, President Clinton appointed Kay to chair the
bipartisan National Women’s Business Council. She
used this platform to launch Springboard
Enterprises, in a move to get women to “think big”
about their growth companies and to raise venture
capital to fund them. Springboard, her shared
vision, has screened over 4000 companies and
presented 360 of them since its first forum in 2000. These companies have raised over $4 billion in capital and are returning positive results to investors at record rates.

Kay
Koplovitz is the author of ‘Bold Women, Big Ideas’ (2002), which she wrote to inform and inspire women entrepreneurs to create wealth through equity. She is a sought after motivational speaker on subjects ranging from leadership and management to entrepreneurship,
capital formation and emerging media.

We
spoke to Kay about the science fiction writer who inspired her career; about
her startup predictions for 2012; and about her motto for life.

TNW:
What was the inspired moment
that led you to launch USA Networks?

KK: I was a student
traveling in London with a backpack and $5.00 a day, when I saw a poster at the
London School of Economics posting a lecture on satellites. I had always been
attracted to space, first by the Russian launch of Sputnik in 1957, then by
President John F. Kennedy in the 1960’s when he inspired Americans to put a man
on the moon. So I thought, well, let’s go hear what these satellites are all
about.

I was captivated by the
speaker and his vision for the power of geosynchronous-orbiting satellites and
how they could transmit signals from any point on earth to another without
being jammed. This was the 60’s, the time of the cold war. We didn’t know what
was behind the Berlin Wall or the Great Wall of China. I was intrigued with his
vision, so much so that it took hold of me and would never let go.

I was determined to launch
programming via satellite and communicate with people behind those walls. It
took seven long years to get US government approval to use satellite for
commercial purposes and two more years to launch Madison Square Garden Sports,
the forerunner to USA Network. It was a long journey and worth the wait.

TNW:
How important is technology to USA Networks?

KK: Technology
is very important to TV networks then and now. Satellites originally made it
possible to secure inexpensive transmission to any point in the US from one
satellite. Today, the multiplicity of media options has moved on to the
internet, mobile, broadband and more. People have so many ways to access media,
and television companies must keep up with the evolving consumer demands.

TNW:
You founded Madison Square Garden Sports in 1977. What was it like leading a company in the
male dominated world of sports television in the 70s? Have you seen attitudes
towards female entrepreneurs change since then?

KK: I never really thought about being a woman in those days
as something different than being an entrepreneur and visionary in the realm of
cable television programming, including sports. In some ways, it probably
helped me to be unique. Being the only woman of my stature at the time made me
recognizable by most in the sports world, so once we got rolling, access became
easier in some ways.

We were
offering a business plan that could fill the sports leagues covers with new
cash flow. The business case spoke volumes, so I think it was pretty easy to
accept. I will say, there were plenty of
incidences of discrimination in the field though.

Clubs with no admittance for women, weekend outings that
the guys went on and to which women weren’t invited and
the like. I have plenty of stories about that era, but hopefully much has
changed today.

TNW:
You have helped countless
female-led startups to find funding. Do companies which are successful in
fundraising tend to share certain common traits?

KK: Interestingly, there are
no distinguishable attributes between start-up companies founded by men or
women. The characteristics they share for wanting to be their own boss, create
wealth, build a team, have control over the scheduling and have decision making
authority are nearly identical. If this is true, why then do women have a
harder time raising capital? Good question. I can speculate from experience
that the networks men have created around their friends and colleagues makes
their investment strategies gravitate them toward more men like themselves.

TNW:
What is the most common piece of
advice that you have given to female founders?

KK: They must present their
credentials upfront to establish their seat at the table.

TNW:
Your book ‘Bold Women, Big Ideas’, aimed at female entrepreneurs, was published in 2002. If
you could distil the key lessons from the book into three sentences, what would
they be?

KK:

Be confident in
your own credentials to have a seat at the table.

Build your network of advisors, experts and sources from
the very beginning to give you access to the human capital you will need to
access financial capital, customers and talent;

Understand your revenue streams, something many business
founders overlook at their peril.

TNW: We published
an article recently about subscription service startups being the next big
thing in 2012. What other startup trends do you predict for the near future?

KK: There are more start-up trends we are seeing every year with
the advancement of technology. Subscription is one, but micro payments have
become very large in media and games, competitions have appeared as trends from
business plan to innovation monetary awards, crowdfunding as a way to
democratize the capital sources for start-ups.

TNW:
How has your leadership style
changed over the years, and why? What is one lesson about leadership you have
learned the hard way, but wish someone had told you in the beginning?

I
have learned to let others take the lead if they are up to the challenge. It
has been surprising to me which people step up when a task is given to a group.

You can lead from the middle
as an alternative to leading from the front, and I find this most effective on
corporate boards of equals.

TNW:
How has Dell or the Dell Women’s
Entrepreneur Network enabled you to grow your business? What do you see as the
benefits of all-women networks such as DWEN?

KK: Actually, I am working
on the same side of the table with Dell, helping women grow their businesses
through Springboard Enterprises, a non-profit venture catalyst selecting,
training and presenting high growth women led businesses to the venture capital
market.

TNW: Do you have a
motto which sums up your approach to business, and to life?

TNW: Is there
anything we haven’t asked you, but you’d like to share with our community?

KK: Yes.

Life
is full of decisions to make. Be fearless if you want to advance. Take risks to
the limit you can tolerate, and you’ll be amazed with how far you’ll go.

The Dell Women's Entrepreneur Network (DWEN)
celebrates the wonderful accomplishments of women in business, whilst
looking forward at how we can progress and learn from each other.
Natural networkers and relationship builders, women have innate flair
for entrepreneurship. With DWEN, Dell is helping women in business to
expand their networks while offering technology capabilities designed to
help them innovate and grow their businesses.

The
NextWomen is in partnership with DWEN to bring you a series of 40
interviews with the world's most influential female founders, investors
and decision makers: The NextWomen DWEN Interview Series.

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The NextWomen is a community of Investors, Entrepreneurs & Advisers. We build formats to support the growth of female entrepreneurs -from
startups to companies making millions. We provide access to capital, resources and networks,
offering our community a support infrastructure critical for success. Join the community too! - See more at: http://www.thenextwomen.com/about-us/contributors#sthash.9GODHllB.dpuf

The NextWomen is a community of Investors, Entrepreneurs & Advisers. We build formats to support the growth of female entrepreneurs -from
startups to companies making millions. We provide access to capital, resources and networks,
offering our community a support infrastructure critical for success. Join the community too! - See more at: http://www.thenextwomen.com/membership/sign-up#sthash.0ApND3BW.dpuf

The NextWomen is
a community of Investors, Entrepreneurs & Advisers. We
build formats to support the growth of female entrepreneurs -from startups to
companies making millions. We provide access to capital, resources and
networks, offering our community a support infrastructure critical for success.